• Amritsar Personal Loan

    Personal loans are unsecured loans which can be taken to support your upcoming expenses. Banks don’t ask for any security while offering a personal loan. Both self-employed and salaried individuals in Amritsar are eligible to apply for such loans.
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    We found 19 Amritsar Personal Loan
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    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    10.75% - 21.50% Fixed
    Up to 2.50% One time fee
    Up to Rs.40L
    1 - 5 Years
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    11.00% - 16.75% Fixed
    Up to 3.50% One time fee
    Up to Rs.5L
    Up to 5 Years
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    15.00% - 21.00% Fixed
    3.00% One time fee
    Rs.1L - Rs.3L
    Up to 3 Years
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    25.00% - 32.00% Fixed
    3.00% One time fee
    Rs.75K - Rs.5L
    1 - 4 Years
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    11.25% - 14.49% Fixed
    Up to 2.75% One time fee
    Up to Rs.20L
    1 - 6 Years
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    18.00% - 36.00% Fixed
    2.00% - 3.00% One time fee
    Rs.1L - Rs.5L
    Up to 5 Years
    Only KYC docs required
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    11.99% - 25.00% Fixed
    3.00% - 6.00% One time fee
    Up to Rs.25L
    1 - 5 Years
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    13.00% - 30.00% Fixed
    Zero Processing Fee
    Rs.50K - Rs.2L
    Up to 4 Years
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    10.50% - 16.99% Fixed
    Up to 2.50% One time fee
    Rs.50K - Rs.25L
    1 - 5 Years
    100% PAPERLESS APPROVAL
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    10.50% - 17.99% Fixed
    0.50% - 3.00% One time fee
    Up to Rs.30L
    1 - 5 Years
    Accelerated Approval
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    16.50% - 20.00% Fixed
    Up to 2.00%(Min ₹2,000) One time fee
    Up to Rs.15L
    1 - 5 Years
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    18.00% Fixed
    2.00% - 5.00% One time fee
    Rs.50K - Rs.7.5L
    1 - 4 Years
    100% PAPERLESS APPROVAL
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    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Amritsar Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Amritsar Personal Loan Interest RatesUpdated on 07 Oct 2022

    Amritsar Personal Loan Details
    Interest Rate (Monthly reducing balance) 10.50% p.a. to 36.00% p.a.
    Processing Fees Up to 6.00%
    Loan Tenure 1 year to 6 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Amritsar overview

    Amritsar is a historical and holy city in Punjab. The city has the famous Golden Temple which attracts thousands of people from across the globe. Amritsar is also called Ambarsar and Ramdaspur. The city has a number of banks and non-banking financial corporations (NBFCs) that offer excellent banking solutions.

    If you are looking for a personal loan for your needs such as home renovation, academic course fees, wedding arrangements, and more, you can apply for one without much trouble.

    You can apply for a personal loan through multiple ways. One of the easiest ways is to apply on the web portal of BankBazaar. Here, you will get an assortment of personal loans with the complete details such as interest rates, processing fee, and special offers for specific loan amounts and specific loan tenures.

    Personal Loans offered by various banks in Amritsar

    Let us take a look at some of the personal loans provided by banks and NBFCs in Amritsar:

    • Standard Chartered
    • Citibank
    • Tata Capital
    • Axis Bank
    • IDFC First
    • Fullerton
    • Aditya Birla
    • Kotak Business Loan
    • Bank of Baroda
    • BOM
    • Central Bank
    • IDBI Bank
    • Karur Vysya
    • SBI
    • South Indian Bank
    • UCO Bank
    • Yes Bank

    How to get a Personal Loan with the Lowest Interest Rate in Amritsar

    When you are planning to apply for a personal loan, you need to make sure that you get the best interest rate for your repayment. To achieve this, you will have to maintain an excellent credit score. It should ideally be 750 and above.

    In order to get a low-interest rate, you will have to choose your loan amount and loan tenure very carefully. You should fix your loan amount according to your repayment ability, your monthly income, and your monthly expenditures.

    If you need to boost your credit score, you should make sure that you do not have any outstanding loan EMIs or unsettled credit card bills. Before you apply for the loan, clear all your dues and get an authorised letter that you have cleared everything.

    You should also ensure that you have a steady job record before you apply for a loan. If you keep moving jobs while applying for the loan, your lender may assume that you will not be able to repay the loan promptly due to unstable income. Therefore, before you apply for a personal loan, make sure you have been in the same job for a reasonably long period.

    Personal Loan Interest rates in Amritsar 2022

    Let us take a look at the interest rates for personal loans in Amritsar:

    Bank Processing Fee Interest Rate Loan Amount Tenure
    Citibank 0.50% to 3.00% (OTF*) 10.50% to 17.99% (Fixed) Up to Rs.30 lakhs 1-5 years
    Standard Chartered Min. of Rs.1,000 (OTF) 11% to 15% Up to Rs.6 lakhs 1-3 years
    TATA Capital Up to 2.75% p.a. 11.25% to 14.49% Up to Rs.20 lakhs 1-6 years
    IndusInd Bank Up to 3.5% (OTF) 11.00% to 16.75% (Fixed) Up to Rs.5 lakhs 1-5 years
    HDFC Bank Up to 2.5% (OTF) 10.75% to 21.50% (Fixed) Up to Rs.40 lakhs 1-5 years
    Aditya Birla 1.00% (OTF) 11.00% to 13.75% (Fixed) Up to Rs.30 lakhs 1-5 years
    Fullerton 3.00% to 6.00% (OTF) 11.99% to 25.00% (Fixed) Up to Rs.25 lakhs 1-5 years
    TurboLoan by Chola 3.00% (OTF) 15.00% (Fixed) Up to Rs.3 lakhs 1-4 years
    HDBFS Personal Loan Up to 2% (OTF) 14.99% (Fixed) Up to Rs.20 lakhs 1-5 years
    Kotak Mahindra Bank Up to 2.50% (OTF) 10.50% to 16.99% (Fixed) Up to Rs.25 lakhs 1-5 years
    Yes Bank Up to 2.50% (OTF) 20% to 22% (Fixed) Up to Rs.2 lakhs 1-3 years

    *OTF – One Time Fee

    Salary Requirements to avail Personal Loans in Amritsar

    When you are applying for a personal loan in Amritsar, you will need to meet certain eligibility criteria. If you apply after checking if you are eligible on the BankBazaar website, your application will get processed more quickly. You will be able to save a lot of time when you evaluate your eligibility. Let us take a look at the salary requirements for personal loans:

    • The minimum age criterion is 21 years old and the maximum age criterion is 65 years old.
    • You should typically be earning more than the minimum income criterion.
    • The minimum income criterion differs for each lender. Your minimum monthly income should be Rs.17,500.
    • You can be a salaried employee or a self-employed person.
    • You will need to submit the following documents for your loan application process: residence proof, age proof, photo ID, bank statements for the most recent 6 months, your application form with your latest photograph, salary slips for 3 months, Income Tax Returns or Form 16.

    FAQs on Amritsar Personal Loan

    1. What is the minimum period for a personal loan?
    2. The minimum period for a personal loan is 1 year.

    3. What are the repayment options for a personal loan?
    4. The repayment options for a personal loan include paying through EMIs, giving a standing order, giving a post-dated cheque, or electronic transfer.

    5. Will I be able to include the income of my spouse in order to build my personal loan eligibility?
    6. Yes, you can combine the income of your spouse to get a better personal loan deal by increasing your loan eligibility.

    7. Will I need to create a bank account in order to apply for a personal loan?
    8. In case you do not have a bank account with the bank from where you need a personal loan, you do not have to compulsorily get an account with that bank.

    9. Do I have to choose a flat rate or a floating rate for my personal loan?
    10. You can choose any of these 2 interest rates for your personal loan.

        

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    Amritsar Personal Loan Reviews

    • HDFC Bank
      "Need to decrease interest charge "
      0.5 4.0/5 "Great!"
      I have taken a personal loan from HDFC after one month I am going to close the loan. I taken this loan on 3 years back for the amount of 1.17L with tenure period of 3 years. It is pre approved loan and they have sanctioned within 2 days, the rate of interest of 14% is high. The processing fee of 5K was deducted from loan. EMI need to pay of 4K. I use to do payment through online.
      Was this review helpful? 0
      , amritsar
      Reviewed on Mar 02, 2020
    • HDFC Bank
      HDFC Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through HDFC Bank. The rate of interest and the processing fee was very low .This loan was sanctioned on time and its still active and i have availed this loan for personal use .There is a penalty if I pay the premium on delay. Overall, I am satisfied with the service .
      Was this review helpful? 1
      , amritsar
      Reviewed on Feb 27, 2020
    • HDFC Bank
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan through HDFC bank .The rate of interest and the processing fee was less .This loan was sanctioned on time and the loan process was clearly shared by the agent.I am paying the premium on EMI basis .There is no extra charges if EMI is paid on delay basis.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jan 27, 2020
    • HDFC Bank
      "Need to improve customer support"
      0.5 2.0/5 "Expected more"
      I have applied for HDFC BANK personal loan via online. There is no follow up from bank executive to process the loan and I was disappointed with their service. I have not submitted the documents yet, I get salary Rs.21,000 but they require RS.25,000 it seems.
      Was this review helpful? 0
      , amritsar
      Reviewed on Nov 04, 2019
    • HDFC Bank
      "Good Service"
      0.5 4.0/5 "Great!"
      I have applied for HDFC Bank personal loan through Online .I have got the update will receive callback and then the documents will be collected but not got any callback and documents was not collected .There was no issues with rate of interest and the processing fee .
      Was this review helpful? 1
      , amritsar
      Reviewed on Oct 24, 2019
    • review
      "Need to be decrease interest charges"
      0.5 5.0/5 "Blown Away!"
      From BAJAJ FINANCE I have taken a personal loan on 7 months before which was applied directly to them. They have sanctioned a loan within one week for the amount of 20 thousands they had given tenure period of 7 months by this month only I closed the loan process. Interest was high of 14%. Monthly EMI I paid for 4 thousands which was high.I received NOC letter as well.
      Was this review helpful? 2
      , amritsar
      Reviewed on Oct 17, 2019
    • Fullerton
      "Need to improve their service"
      0.5 4.0/5 "Great!"
      The rate of interest was high from Fullerton which applied for a personal loan on a month before. I received a call from them after 25 days only which was too delay. Amount offered for 60 thousands for the tenure of 2 years. From bank closed the loan process.
      Was this review helpful? 4
      , amritsar
      Reviewed on Oct 17, 2019
    • Fullerton
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied personal loan from Fullerton. I had received the loan amount on time and they disbursed sufficient loan amount. I had submitted my documents online and verification was done on time and it was hassle free. Rate of interest is nominal.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 15, 2019
    • HDFC Bank
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for HDFC Bank personal loan where my I had waited for long time but then I had planned and I had arranged funds from other source and then I had dropped this application but HDFC Bank should be quick to update the customer rather than making to wait.
      Was this review helpful? 0
      , amritsar
      Reviewed on Sep 23, 2019
    • IDFC Bank
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since it has been very simple in getting a loan through them and i already had a bad experience with another bank. The process in getting the loan has been smooth and they had been cooperative and they had been very much on time. The services which they had provided has been too good and the loan amount and the interest rate has been good as well.
      Was this review helpful? 1
      , amritsar
      Reviewed on Nov 08, 2018
    • Fullerton
      "GOOD"
      0.5 4.0/5 "Great!"
      There is no particular reason for taking the personal loan with the FULLERTON but the loan amount is not sufficient, because i have opted for higher amount. The rate of interest is nominal also the processing fee is there. The customer service is good.
      Was this review helpful? 2
      , amritsar
      Reviewed on Nov 07, 2018
    • Fullerton
      "Need to reduce ROI"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with Fullerton and my loan experience was up to the mark. The loan amount was for Rs 1.30 lakhs with high interest rate when compared to others. Customer service was good and they collected documents on time. The tenure for this loan is 4 years.
      Was this review helpful? 3
      , amritsar
      Reviewed on Jul 06, 2018
    • Fullerton
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      They had been providing good offers, and the loan experience had been good . The process went well and smooth. The rate of interest has been okay with them but would have been good if it has been less. The customer service has been very good and the loan amount has been satisfactory. It took nearly a month to get the loan amount.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 30, 2018
    • Punjab National Bank
      "Good customer service"
      0.5 3.5/5 "Pretty good"
      I have applied for the personal loan from PNB, i am happy that my loan application was approved and the required amount was disbursed. The customer service was good and responsive. There was a bit delay in processing the loan amount, it took one week for the loan amount to get approved. The rate of interest is 13% which is high when compared to all other banks.
      Was this review helpful? 6
      , amritsar
      Reviewed on Oct 21, 2017
    • HDFC Bank
      "Personal loan work is very slow and Bad"
      0.5 0.5/5 "Unacceptable"
      It is totally confused bank . Not tell full requirement of document. So irritated workers in Bank. My experience bad with this instead of others Bank. I dont like open my account in this in case in future. Good Bye . Bank walo. Mere chotti jehi problem nu ena vadda karan lai thanks
      Was this review helpful? 1
      , amritsar
      Reviewed on Jun 13, 2017
    • HDFC Bank
      "Recommandable product"
      0.5 4.0/5 "Great!"
      I personally went to HDFC branch and requested them for the personal loan, there was no documents collected from my end. Because I am an existing customer of HDFC, they asked only customer id to check the offers and disbursed the amount within 30 seconds. I am very much satisfactory with their fast service.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 31, 2017
    • Axis Bank
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The experience with Axis bank was also up to my satisfaction. They were quick and fast in providing me the personal loan based on my salary account they have provided me this loan its been 3 months now i have taken.Amount is 3 laks and 30k and the EMI is 11000/- its for 4 years and the rate of interest they have offered me is 14% processing they have deducted is 10k
      Was this review helpful? 0
      , amritsar
      Reviewed on Feb 18, 2017
    • Bajaj Finserv
      "Personal loan Bajaj finserv way to go"
      0.5 5.0/5 "Blown Away!"
      Bajaj Fin serv was offered best personal loan with amazing offers. Like 1% Processing fee, Pre part payment for dues, No charges for Pre closing the loan. It was quite good service. Paper less documents. Within a day they had processed my loan. Based on my experience they deserved 5 stars ..
      Was this review helpful? 2
      , amritsar
      Reviewed on Oct 22, 2016
    • HDFC Bank
      "Good experience with HDFC"
      0.5 3.5/5 "Pretty good"
      I had a very good experience with HDFC . After submitting my documents within 10 days. They had disbursed the loan amount. HDFC has provided 13.5% rate of interest because I am an existing customer of the same bank. Even they did not charge any processing fee, I am happy with HDFC.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 22, 2016
    • HDFC Bank
      "Good process..."
      0.5 4.0/5 "Great!"
      I have already paid 10EMIs for my personal loan. I took it from HDFC Bank. My salary account is with them so, I got my loan easily. They offered 15% interest rate and it should be reduce. Processing charges an all quiet good when I compare to ICICI bank.
      Was this review helpful? 1
      , amritsar
      Reviewed on Jan 26, 2016
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